IFC has made agribusiness a priority because of the sector’s broad development impact and potential for poverty reduction. Our investment and advice help companies address higher demand and escalating food prices in an environmentally sustainable and socially inclusive way.
In Latin America, IFC and partners arranged a $100 million financing package to grow Argentina-based San Miguel, a major industrialized and fresh citrus exporter. Strengthening San Miguel’s operations in Argentina, Peru, and Uruguay will help the company create jobs, apply environmental and social best practices, and improve agricultural productivity.
In India, IFC’s $35 million investment in DCM Shriram Ltd. will support the expansion of the company’s sugarcane processing capacity in the low-income state of Uttar Pradesh. The financing comes along with an ongoing advisory program that is helping train 185,000 sugarcane farmers in advanced farming techniques.
In South Africa, IFC’s €30 million loan, together with its advice, are fertilizing the growth of United Exports (formerly Mbiza), a family-owned South African business that plants, packs, and exports fruits. Technology and infrastructure upgrades will increase efficiency and add up to 250 new permanent jobs and 4,200 seasonal jobs in communities with high unemployment rates. Many of these positions will be filled by women.